Discovery Taymouth Manco Limited

Notes to the Financial Statements for the Period from 24 February 2024 to 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
C/O Alter Domus (UK) Limited
10th Floor
30 St Mary Axe
LONDON
EC3A 8BF

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Basis of preparation

These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including section 1A of Financial Reporting Standard 102 - 'The Financial Reporting standard applicable in the United Kingdom and Republic of Ireland' ('FRS 102 1A'), and with the Companies Act 2006.

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Specifically, judgements and estimates are required in determining the recoverability of debtors.

Discovery Taymouth Manco Limited

Notes to the Financial Statements for the Period from 24 February 2024 to 31 December 2024

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

 Recognition and measurement
All financial instruments are recognised initially at fair value plus transaction costs. Thereafter financial instruments are stated at amortised cost using the effective interest rate method (less impairment where appropriate) unless the effect of discounting would be immaterial in which case they are stated at cost (less impairment where appropriate). The exception to this are those financial instruments where it is a requirement to continue recording them at fair value through profit and loss.

 Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Discovery Taymouth Manco Limited

Notes to the Financial Statements for the Period from 24 February 2024 to 31 December 2024

Trade and other debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Audit report

The Independent Auditor's Report for the year ended 31 December 2024 was unqualified.

The name of the Senior Statutory Auditor who signed the audit report on 10 October 2025 was Nigel Ling, who signed for and on behalf of DJH Audit Limited.

3	Staff numbers

The average number of persons employed by the company (including directors) during the period, was 2.

4	Auditors' remuneration

	2024 £
Audit of the financial statements	6,510

 

Discovery Taymouth Manco Limited

Notes to the Financial Statements for the Period from 24 February 2024 to 31 December 2024

5

Debtors

Current	2024 £
Accrued income	2,372,087
Other debtors	208,029
	2,580,116

6

Creditors

	2024  £
Due within one year
Amounts owed to group undertakings	25,000
Other creditors	1,614,288
Corporation tax	171,104
	1,810,392
Due after one year
Deferred income	205,466

7	Share capital

Allotted, called up and fully paid shares

	2024
	No.	£
Ordinary of £1 each	1	1

During the year 1 ordinary share of £1 was issued upon incorporation of the company.

Discovery Taymouth Manco Limited

Notes to the Financial Statements for the Period from 24 February 2024 to 31 December 2024

8	Related party transactions

Summary of transactions with other related parties

The company has taken advantage of the exemption in FRS 102 1AC.35 "Related Party Disclosures" from disclosing transactions with other members of the group.

Amounts due to and from group undertakings are interest free, unsecured and repayable on demand.

9

Control

The smallest and largest group of undertakings of which the company is a member, and for which consolidated accounts are produced, is that headed by Discovery Land Consolidated LLC.

The registered office and principal place of business of Discovery Land Consolidated LLC is 14605 North 73rd Street, Scottsdale, Arizona 85260, USA.